BNY Mellon Asset Management was well represented at the 2011 Investment Week Awards. Insight Investment Management (Global) Limited and Newton Investment Management Limited both won key industry awards at the event, held at the Royal Albert Hall in London.
The Absolute Insight UK Equity Market Neutral Fund and the Newton Real Return Fund, were jointly awarded best fund in the Absolute Return sector. This is the first year that such an award has been made, recognising the importance of this strategy for UK retail investors. Four of the six nominated funds were from BNY Mellon Asset Management.
Commenting on the awards, Mitchell Harris, president of BNY Mellon's Investment Management division, said: "Insight and Newton's distinctive approaches to absolute return investing have provided investors with attractive returns across varied market conditions. Having two of our asset management firms receive a joint award for their investment expertise is a real testament to our multi-boutique approach."
The Newton Real Return Fund is one of Newton's longest established funds. Launched in April 2004, the fund is an unconstrained, actively managed multi-asset portfolio that seeks to produce a real return in excess of a cash benchmark (LIBOR + 4%) over an investment horizon of 3-5 years, with significantly less volatility than equities. Working within Newton's global thematic process, fund manager Iain Stewart and Newton's experienced investment management team, have delivered top quartile performance over 1, 3 and 5 years*.
Launched in February 2007, the Absolute Insight UK Equity Market Neutral Fund has beaten its benchmark of 3-month LIBID over 1 and 3 years and since inception*. The Fund aims to deliver positive absolute returns in all market conditions, investing in both long and short positions in the UK market by employing a paired trade approach. The skilled team of investment professionals, which includes Andy Cawker, Iain Brown and Richard Howarth, aims to profit from investment opportunities through carefully constructed investment positions where risk is focused on the specific return drivers being targeted, while unwanted risks are hedged out.
The Investment Week Awards are designed to recognise and reward excellence in the UK investment industry. The judges use a combination of quantitative performance-based screens and qualitative factors to determine the winner. This year for the first time there was an award for absolute return funds, based on the Investment Management Association's Absolute Return classification.
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